Reliq Health Technologies, Inc. Announces Six New Contracts in Pennsylvania and California and Related Artificial Intelligence Applications
February 16 2023 - 3:01AM
Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or
WKN:A2AJTB) (“
Reliq” or the
“
Company”), a rapidly growing global healthcare
technology company that develops innovative Virtual Care solutions
for the multi-billion dollar Healthcare market, is pleased to
announce that it has signed new contracts with three Assisted
Living Facilities and three physician practices in Pennsylvania and
California. The Company expects to onboard over 3,000 new patients
to its iUGO Care platform through these contracts by the end of the
year, at an average revenue of $65 per patient per month.
“We are very pleased to be expanding into
Pennsylvania as well as continuing to grow our business in
California,” said Dr. Lisa Crossley, CEO at Reliq Health
Technologies, Inc. “The Assisted Living Facilities (ALFs) will be
using our iUGO Home solution to provide in-facility emergency
alerts, fall detection and geofencing, along with a secure portal
for family members to monitor their loved one’s condition while in
the ALF. The geofencing feature allows staff to receive alerts if a
patient with cognitive issues attempts to leave the facility on
their own. The facilities will also be using Reliq’s patient
monitoring and telemedicine modules to track medication compliance,
monitor vitals, and facilitate virtual visits for their residents
with primary care providers and specialists such as cardiologists.
Since many ALF residents have significant heath and mobility
issues, virtual visits allow them to receive high quality care in
the facility without the cost, inconvenience and risk of falls or
exposure to COVID, RSV and influenza associated with being
transported to their physician’s office. We expect to add over
3,000 patients to our iUGO Care platform by the end of this year
through these contracts, at an average revenue of $65 per patient
per month at 75% gross margin.”
“We’re often asked how we can use Artificial
Intelligence (AI) in our iUGO Care platform to improve patient
health outcomes,” continued Dr. Crossley. “The use case described
above is a good example of a potential application of AI in iUGO
Care. The fall detection data collected in Assisted Living
Facilities along with the data on patients’ medications, clinical
conditions and vital signs can be used with AI to create predictive
algorithms that identify those patients who are most at risk of
falls. This allows facilities to implement appropriate fall
prevention measures for these at-risk patients, reducing falls and
the resulting complications and hospitalizations. The combination
of our comprehensive patient dataset with AI technology enables
clients to provide proactive, preventative patient care to further
safeguard their patients’ health and safety.”
Reliq Health
Reliq Health Technologies is a rapidly growing
global healthcare technology company that specializes in developing
innovative Virtual Care solutions for the multi-billion dollar
Healthcare market. Reliq’s powerful iUGO Care platform supports
care coordination and community-based virtual healthcare. iUGO Care
allows complex patients to receive high quality care at home,
improving health outcomes, enhancing quality of life for patients
and families and reducing the cost of care delivery. iUGO Care
provides real-time access to remote patient monitoring data,
allowing for timely interventions by the care team to prevent
costly hospital readmissions and ER visits. Reliq Health
Technologies trades on the TSX Venture under the symbol RHT, on the
OTC as RQHTF and on the Frankfurt Stock Exchange under the
WKN:A2AJTB.
ON BEHALF OF THE BOARD
“Dr. Lisa Crossley”
CEO and Director
For further information please contact:
Company ContactInvestor Relations at
ir@reliqhealth.com
US Investor Relations ContactInvestor
RelationsLytham Partners, LLCBen ShamsianNew York |
Phoenix646-829-9701shamsian@lythampartners.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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Looking Information
Certain statements in this press release
constitute forward-looking statements, within the meaning of
applicable securities laws. All statements that are not historical
facts, including without limitation, statements regarding future
estimates, plans, programs, forecasts, projections, objectives,
assumptions, expectations or beliefs of future performance, are
"forward-looking statements".
We caution you that such "forward-looking
statements" involve known and unknown risks and uncertainties that
could cause actual and future events to differ materially from
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Forward-looking statements include, but are not
limited to, statements with respect to commercial operations,
including technology development, anticipated revenues, projected
size of market, and other information that is based on forecasts of
future results, estimates of amounts not yet determinable and
assumptions of management.
Reliq Health Technologies Inc. (the
"Company") does not intend and does not assume any
obligation, to update these forward-looking statements except as
required by law. These forward-looking statements involve risks and
uncertainties relating to, among other things, technology
development and marketing activities, the Company's historical
experience with technology development, uninsured risks. Actual
results may differ materially from those expressed or implied by
such forward-looking statements.
SOURCE: Reliq Health Technologies Inc.
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